A report has shown that U.S. employers surprisingly added employees in the moth of July, thus bolstering stocks in the country for the second day. Wal-Mart Stores and Walt Disney helped lead the advance as ADP Employer Services said payrolls grew by 9,000 this month. The unexpected growth has led some to speculate that the job market will not fall pray to the current economic difficulties in this country. However, the outlook across the pond is less favorable, as European companies appear to be headed toward something of a recession.
See "U.S. stocks find reason to rise after jobs report", International Herald Tribune, July 29, 2008